The resources are there, the report shows. Top miners posted stellar financial results for 2021, with revenues rising by 32% on the back of high commodity prices and prudent cost management.
Their combined net profit reached $159 billion last year, a staggering 127% increase from the $70 billion they recorded in 2020.
Paul Bendall, global mining leader at PwC, warns it’s unclear how long this record run will continue, given the unprecedented change the industry is facing.
“Demand for critical minerals continues to surge, operating environments are getting more challenging and new players are emerging,” he says.
Figures from the International Energy Agency suggests that annual critical minerals demand from clean energy technologies will reach more than $400 billion by 2050.
A telling figure that proves the point: Market capitalizations for critical minerals miners…
